What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

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  • Guys,

    Some update from my side....and this is a shocker. Jaypee has denied the possession, saying that the letter was sent by mistake and is null and void.

    I am lost for words....what mismanagement!

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  • Jaiprakash Associates aims to be debt-light, even zero debt: Manoj Gaur By Jwalit Vyas, ET Bureau | Updated: Jul 07, 2017, 08.38 AM IST







      We have an order book of over Rs 10,000 crore and E&C business shows good prospects looking at India's requirement of infrastructure.
      Real estate developer Jaiprakash Associates (JAL) is exploring whether it can turn debt-free, said its executive chairmanManoj Gaur . In an interview to Jwalit Vyas, he said that after passing through its worst phase, which saw it selling its best assets to pay back loans, the group is now planning to focus on engineering and construction, and real estate when it picks up.

      Edited excerpts:

      How do you look back at the two crucial deals -cement sale to UltraTech for Rs 16,200 crore and the Rs 13,000-crore land bank arrangement with the bankers? What is the debt situation now?

      After the completion of these two deals, JAL's debt would be around `6,000 crore, down from over Rs 30,000 crore at the end of March.The transaction with UltraTech is the country's largest divestment in cement. It would have been complete long ago but for regulatory issues, including the Mines and Minerals Development and RegulationAct, which had to be addressed by legislators twice.

      Can you elaborate on the 1,000-acre land bank arrangement with banks?


      JAL has strategically located land onYamuna Expressway which has become valuable due to the approval of NoidaInternational Airport at Yamuna Expressway (at Jewar). As part of JAL's divestment plan, a provision according to the prevailing norms for stressed accounts, the banks decided to have part of the debt in the SPV (special purpose vehicle) which owns the land since they are the beneficiaries of its economic interest.

      What will be your strategic focus now?

      Our emphasis will be to maximise the opportunities available in the field of E&C (engineering and construction) and real estate as and when it picks up. Our endeavour is to move from being debt heavy to being debt light and whether we can be a zero debt company. JAL has significant real estate opportunity, besides having hotels and its core business of E&C. We have an order book of over Rs 10,000 crore and E&C business shows good prospects looking at India's requirement of infrastructure.

      What kind of opportunities in real estate and infrastructure are you looking at?

      Even after giving up certain land banks, there is a lot of real estate potential left in JAL in Noida and partially in Greater Noida. We will also be participating in irrigation, tunnels, hydro and metro projects, to name a few. JAL's EPC division, six years ago, had Rs 15,000 crore order book. We have the needed capacity to grow our EPC business and will endeavour to reach revenue of around Rs 6,000 crore by FY20 from this stream.

      Will the slowdown in core economic sectors affect your plans?

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.

      The entire country is in the grip of financial downturn for the last four years, especially in infra, power and real estate. However, it is for all to see the fundamentals of JAL ¬ for instance, our capacity to execute projects while upholding the principles of credibility and efficiency. The company has in the past come out from difficult situations and grown strongly.The experience of the last 10 years has enriched the thinking and working of hundreds of committed officers of the group and I see no reason why this will not help in the future, for growth of the company.
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  • Originally Posted by ashishew
    Guys,

    Some update from my side....and this is a shocker. Jaypee has denied the possession, saying that the letter was sent by mistake and is null and void.

    I am lost for words....what mismanagement!



    What happened ashish?

    Why were you denied the possession? Is your flat ready? Are you in the process of getting it registered?
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  • Originally Posted by anjanpanda00


    What happened ashish?

    Why were you denied the possession? Is your flat ready? Are you in the process of getting it registered?


    The tower is ready, 6+ families have been residing in the tower. My Flat is ready, though finishing (light switches, cleaning, etc) is pending.

    The problem is the OC or lack of it. The OC has been applied for in 2015, but it is not provided by Noida Authority due to JP's inability to complete formalities.

    So, back to uncertainty. Joy has now transformed into anger.
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    4 Comments
    • ashishew1 years ago
      Possesion to selective flats has been provided without oc. For ordinary folks jp seems to have double standards
  • Hi Ashish,

    Which tower are you in?? Please advise.

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    1 Comments
    • ashishew1 years ago
      Pmed you. Lost all hope
  • When the authority sanctions building plans, it is typically with the condition that construction be completed within 5 years. Since JP has failed to do this is almost every project, technically none of the JP projects where plans were sanctioned more than 5 years ago and where full construction certificate has not been obtained, have valid building plans anymore. I am not sure if the authority will make an issue of this, but this is the actual technical situation.
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  • Originally Posted by Truenity
    When the authority sanctions building plans, it is typically with the condition that construction be completed within 5 years. Since JP has failed to do this is almost every project, technically none of the JP projects where plans were sanctioned more than 5 years ago and where full construction certificate has not been obtained, have valid building plans anymore. I am not sure if the authority will make an issue of this, but this is the actual technical situation.


    Maybe, in my experiance jp staffers are complete a***oles . The crc head venketesh is the rudest guy. No manners no courtesy....minakshi is a complete tool who is too lazy to even respond to emails.
    all the 5 times i have been to crc, she was watching youtube videos with her lotus notes conveniently closed. (They still use lotusnotes !!!)


    This company deserves to get bankrupt.
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  • Jaypee buyers float online petition to save builder from impending bankruptcy The appeal is titled: “Save 25000 buyers of Jaypee by preventing them from filing bankruptcy”Sharmila Bhowmick | TNN | July 07, 2017, 07:45 IST

    NOIDA: Buyers of Jaypee Wish Town have started an online petition directed to the management of the Industrial Development Bank of India (IDBI), seeking amnesty for Jaypee Infratech from an impending declaration of bankruptcy. The appeal harps that invested buyers should not have to bear the brunt of Jaypee’s financial situation.

    The campaign, floated on online platform Change.org has been started following a directive from the Reserve Bank of India in June to all lending banks to Jaypee group to file an application under insolvency and bankruptcy code (IBC) with the National Company Law Tribunal. The push came from the apex bank after several lenders to Jaypee flagged its debts as non-performing assets or bad debts.

    So far 1265 Wish Town buyers have signed it. The campaign has been undersigned by Arvind Jain, president of Developers Township Property Owners Welfare Society, the apex association for all buyers of Jaypee Wishtown apartments. The appeal has been marked to Mukesh Kumar Jain, MD and CEO, IDBI Bank.

    The appeal is titled: “Save 25000 buyers of Jaypee by preventing them from filing bankruptcy.”

    “We were told that the construction at Wishtown is in process. We are informed that the builder has procured Rs1800 crore as working capital for the completion of the project. Now if the builder is declared insolvent, all of us are going to sink in this financial disaster,” Arvind Jain told TOI.

    Responding to the possible ramifications of such a situation where the builder is declared insolvent and bankrupt, Noida Authority CEO, Amit Mohan Prasad said, “In case a situation of insolvency transpires, the first right to the land on which Jaypee Wishtown stand, will be that of Yamuna Expressway Industrial Development Area (YEIDA). But we still have no information of how matters would steer,”

    In response to a query from TOI on the financial state of the company and its ramifications on the Wish Town project, Sameer Gaur, director, Jaypee Infratech said, “I am travelling out of town on business. Intricacies are being worked on. We will be able to provide clarity on the situation in a few days.”










    http://realty.economictimes.indiatimes.com/news/regulatory/jaypee-buyers-float-online-petition-to-save-builder-from-impending-bankruptcy/59482965
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  • https://www.noidaauthorityonline.com/DETAILSOFGHSAN4JUL.pdf

    This will come as a shock, especially to buyers of projects like Kalypso, Imperial Court and Pavilion Court who thought they had bought their houses from JP Associates.

    As far as Noida authority is concerned, the builder for all JP projects including sector 128 is JP Infratech- the company that has been referred to bankruptcy Court.

    It seems the JP plan is to save JP Associates and throw all the JP Infratech stakeholders, including Wishtown buyers, under the bus.
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  • Originally Posted by Truenity
    https://www.noidaauthorityonline.com...FGHSAN4JUL.pdf

    This will come as a shock, especially to buyers of projects like Kalypso, Imperial Court and Pavilion Court who thought they had bought their houses from JP Associates.

    As far as Noida authority is concerned, the builder for all JP projects including sector 128 is JP Infratech- the company that has been referred to bankruptcy Court.

    It seems the JP plan is to save JP Associates and throw all the JP Infratech stakeholders, including Wishtown buyers, under the bus.


    By this logic even the axis bank main office ( supposed to be JPA headquarter ) will be razed by noida authority .... LoL...
    I can only laugh and laugh reading ur logic...

    It can be clearly understood the issue is with NO DUES CERTIFICATE from YEIDA... where jaypee infratech has to deposit some amount before 31st Aug 2017 as per extended commitment date agreed upon with the authority... if the intention had been to default JP would not have deposited 100 cr in may17 and requested to extend deadline...lets wait and watch how things move on from here.

    There are unconfirmed reports of lenders agreeing to rescue JIL ( evident from increasing share price of JIL).... this is another reason why JIL case has not reached NCLT.... situation is still evolving on a daily basis... we buyers hope for the best.

    http://denofwealth.blogspot.com/2017...e-off.html?m=1
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  • Originally Posted by bhuwan


    By this logic even the axis bank main office ( supposed to be JPA headquarter ) will be razed by noida authority .... LoL...
    I can only laugh and laugh reading ur logic...

    It can be clearly understood the issue is with NO DUES CERTIFICATE from YEIDA... where jaypee infratech has to deposit some amount before 31st Aug 2017 as per extended commitment date agreed upon with the authority... if the intention had been to default JP would not have deposited 100 cr in may17 and requested to extend deadline...lets wait and watch how things move on from here.

    There are unconfirmed reports of lenders agreeing to rescue JIL ( evident from increasing share price of JIL).... this is another reason why JIL case has not reached NCLT.... situation is still evolving on a daily basis... we buyers hope for the best.

    http://denofwealth.blogspot.com/2017...e-off.html?m=1

    Hahahaha. A blog post you have made is an unconfirmed report ? Hahahaha .

    The quality of the post is evident from the fact that someone is guaranteeing that JP share price will go up 5 times in 2-3 years.

    One poster called dineshsays was giving similar guarantees about investment in JP Wishtown a few years ago. Hilarious.

    If you think JP customers who are unsecured operational creditors and the lowest in the bankruptcy heirarchy are in the same position as a lender who has explicitly taken over an asset in return for the discharge of a senior secured debt, then God help you.

    The history of our respective posts provides enough evidence of whether either of us knows what we are talking about. I am not going to waste my travel me and have a technical discussion with people who are not just ignorant about technical nuances but cannot even understand the language.
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  • Originally Posted by Truenity

    Hahahaha. A blog post you have made is an unconfirmed report ? Hahahaha .

    The quality of the post is evident from the fact that someone is guaranteeing that JP share price will go up 5 times in 2-3 years.

    One poster called dineshsays was giving similar guarantees about investment in JP Wishtown a few years ago. Hilarious.

    If you think JP customers who are unsecured operational creditors and the lowest in the bankruptcy heirarchy are in the same position as a lender who has explicitly taken over an asset in return for the discharge of a senior secured debt, then God help you.

    The history of our respective posts provides enough evidence of whether either of us knows what we are talking about. I am not going to waste my travel me and have a technical discussion with people who are not just ignorant about technical nuances but cannot even understand the language.


    Ya i m making blog posts and i am buying all shares of JAL and JIL to increase the share price .... just to get my apartment...
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  • @ADMIN, is there a way to put members on ignore using Tapatalk ?
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  • Yes @ADMIN please tell if anyway to ignore a member?
    I don't wanna listen any God of Knowledge... I m perfectly fine being ignorant
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  • Originally Posted by Truenity
    @ADMIN, is there a way to put members on ignore using Tapatalk ?


    Yes....go to app store and uninstall tapatalk
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